Search results for "Covid-19"

'Turn off MSNBC': Trump official blames media for plummeting consumer confidence

Treasury Secretary Scott Bessent offered a unique fix for sharply falling consumer confidence, which is now at the lowest level in twelve years — even worse than during the COVID-19 pandemic.

During a Senate Banking Committee hearing on Thursday, U.S. Senator Pete Ricketts (R-NE), told the Treasury chief, “despite all this progress, we’re seeing consumer confidence is not really rebounding the way that the economy seems to be.”

“In your opinion,” Ricketts then asked Bessent, “what more can we in the Senate be doing with regard to consumer confidence and making, you know, obviously — we had 40-year-high inflation under the Biden administration — but what more can we be doing in the Senate to be able to help out with confidence in consumers?”

Bessent replied immediately.

“Other than telling consumers to turn off MSNBC,” he said, referring to the rebranded MS NOW.

“A large part of it is a survey problem, where Democrats vote very low, Republicans are more realistic, and then we end up, what we’re seeing,” he added, suggesting that the problem is not the economy — despite what experts see as persistent inflation and a “hiring recession,” but how people who watch or read a single news outlet perceive the economy.

Trump's high doses of aspirin could lead to 'stomach ulcers and brain bleeds': experts

Medical specialists warn President Donald Trump is risking "stomach ulcers and brain bleeds" with his unprescribed regimen of daily aspirin, reports the iPaper.

Trump told The Wall Street Journal that he takes a higher than recommended daily dose of aspirin because he wants “thin blood” to protect his heart.

“They say aspirin is good for thinning out the blood, and I don’t want thick blood pouring through my heart,” said Trump. “I want nice, thin blood pouring through my heart.”

But while aspirin can be used in a preventive manner, it is generally taken at a lower dose — and even then, only if the patient has already suffered heart-related injury such as stroke.

“If we’re using a drug for prevention, we want to use the minimum dose that gives the benefit without increasing the side effects,” said Professor Beverley Hunt, head of the charity Thrombosis UK.

“The risks from aspirin are not minor,” reports the iPaper. “In the stomach, aspirin irritates the lining, leading to stomach ulcers. It can also cause minor bleeds elsewhere in the gut, which can lead to anemia and fatigue in older people.”

In addition, aspirin can cause bleeding in the brain if the victim whacks their head, with Hunt saying “if you’re on aspirin and you hit your head and you have an intracranial bleed, it will be bigger on aspirin.”

People on aspirin are also more prone to bruises, as suggested by the unrelenting bruise on Trump’s hand, which he admits is caused by taking aspirin.

Another controversial aspect of the treatment is whether Trump should be taking it at all, say experts. Doctors in the UK and the U.S. know the risk and generally recommend it only for people who have already had a heart attack or stroke, particularly elderly people like the president. Hunt says the nation is “sort of moving away from it.”

In the U.S., guidelines even recommend against starting preventive aspirin for people who are 60 or over because of the high bleeding risk it presents to older people.

But, of course, Trump is the same president who in 2020 claimed to be taking hydroxychloroquine to prevent Covid despite the lack of evidence showing it worked. Years later, trials confirmed that it did not in fact do anything for the Covid-19 virus.

Read the full iPaper report at this link.

Director James Cameron says in Trump's America 'everybody's at each other's throats'

Acclaimed Hollywood director James Cameron recently elaborated on why he left the United States, and lamented that the U.S. has become paralyzed by political division under President Donald Trump.

The Hill reported Friday that Cameron – who directed the "Avatar" series along with blockbuster films like "Titanic" and the first two installments of the "Terminator" series – gave frank criticism of the political climate in the United States during an interview with journalist Graham Bensinger.

The Canadian-born filmmaker said that while he left the U.S. for his 12,000-acre New Zealand estate during the Covid-19 pandemic, he's in no hurry to return. He referred to his newly adopted home country as more "sane" than the United States due to its respect of science and its high vaccination rate.

"This is why I love New Zealand," Cameron said. "People there are, for the most part, sane, as opposed to the United States, where you have a 62 percent vaccination rate, and that’s going down, going the wrong direction."

The Oscar-winning director then posed a rhetorical question to Bensinger, asking: "Where would you rather live?"

"A place that actually believes in science and is sane and where people can work together cohesively toward a common goal, or a place where everybody’s at each other’s throats, extremely polarized, turning its back on science and basically would be in utter disarray if another pandemic appears?" He said.

Bensinger remarked that the United States was "a fantastic place to live," but referred to New Zealand as "stunningly beautiful." Cameron countered: "I'm not there for the scenery, I'm there for the sanity."

Cameron has been a consistent Trump critic. According to The Hill, Cameron said the 2024 election was "like watching a car crash over and over." He said during a 2025 podcast that he viewed the U.S. as turning away "from anything decent."

"America doesn’t stand for anything if it doesn’t stand for what it has historically stood for," he said not long after Trump's second inauguration. "It becomes a hollow idea, and I think they’re hollowing it out as fast as they can for their own benefit."

Trump's attempt to weaken the US dollar spells 'real trouble': analysis

For decades, President Donald Trump has been laser-focused on lowering the value of the U.S. dollar. And as president, he's doubled down on that goal. But one columnist is warning that weakening the dollar may prove hazardous in more ways than one.

In a Wednesday essay, The Atlantic's Will Gottsegen explained that Trump's crusade against the dollar has gone on since long before he was elected to the White House. Trump's anti-dollar campaign began in earnest in 1987, when he took out full-page ads in the New York Times, Washington Post and Boston Globe complaining that the dollar was too strong compared to the "brilliantly managed" Japanese yen.

According to Trump's argument, the comparatively low value of the Chinese yuan and the Japanese yen makes it possible for those countries to manufacture goods on the cheap in international markets. Gottsegen noted that Trump has somewhat succeeded, with the dollar recently losing 1.3 percent of its value in foreign exchange markets compared to other currencies around the globe.

Data from Trading Economics shows that as of February 2026, the dollar index is at 97.741, which is the lowest mark of Trump's second presidency. The dollar hasn't been valued that low since March of 2022, when then-President Joe Biden was still contending with a global supply chain that had been decimated in the wake of the Covid-19 pandemic, Russia's escalating war in Ukraine and the resulting decades-high inflation that those events helped create.

In order to explain how Trump's actions were contributing to a weaker currency, former International Monetary Fund (IMF) chief economist Kenneth Rogoff told Gottsegen that Trump was effectively "doing a rain dance" in wishing for the devaluation of the U.S. dollar. Rogoff said there were numerous factors at play typically beyond a president's control — like interest rates set by the Federal Reserve – that influence the dollar's value far more than any executive action.

Gottsegen explained that the dollar has long been the world's reserve currency dating back to the post-World War II economic boom. And despite Trump's actions, the dollar is not in jeopardy of losing its status anytime soon, meaning the U.S. can still borrow money for a relatively low cost, effectively impose economic sanctions on adversaries and continue running deficits. However, as the dollar weakens, so does the United States' influence abroad. Gottsegen cautioned that should the dollar continue its slide, it could result in a dramatic shift of the global order — and not in the United States' favor.

"The real trouble, in other words, is not that the dollar’s value is getting weaker," he wrote. "It’s the possibility that America’s allies and trading partners may one day cease to respect it."

Trump tax cuts deliver big for mega-rich retail CEOs

As workers face slowing wage growth, a worsening cost-of-living crisis, and rising unemployment, the chief executives of top corporate retailers in the United States are reaping huge gains from the tax cuts that US President Donald Trump and congressional Republicans extended over the summer.

An analysis released Friday by the progressive advocacy group Americans for Tax Fairness (ATF) estimates that the CEOs of Amazon, Best Buy, Costco, Home Depot, Lowe’s, Target, TJX, and Walmart have collectively saved close to $35 million on their individual tax returns in the seven years the Trump tax cuts have been in effect.

Thanks to the Trump-GOP tax law, which took effect in 2018, the companies examined in the analysis paid a tax rate of just 17.5% between 2018 and 2024—roughly half what they paid prior to the law’s enactment.

“While at the same time prices have soared for consumers and retail workers remain stuck in low-wage jobs, big-store CEOs and shareholders have reaped higher profits and lower taxes,” David Kass, ATF’s executive director, said in a statement. “If we want a system that alleviates economic stress on average Americans instead of exacerbating it during the holiday season, we need to raise taxes on corporations and the rich, invest in workers and families with expanded public services.”

Workers at the major retailers haven’t fared nearly as well. ATF noted that “the average worker at the eight stores was paid less than $32,000 in 2024.”

“Amazon—the world’s largest retailer—refuses to even sit down with its employees who have formed a labor union for better pay, benefits, and working conditions,” the group observed. “If Lowe’s had used the nearly $50 billion it spent on stock buybacks over the seven-year period to instead raise employee wages, its workers would have each been paid almost $200,000 more.”

Across the US economy, workers are seeing wage growth stagnate amid elevated and still-rising prices, which are forcing many to skip meals and ration their medications to make ends meet.

The Labor Department said earlier this week that wage growth decelerated to 3.5% year over year—the slowest pace since before the Covid-19 pandemic. Unemployment, meanwhile, rose in November to the highest level in four years.

The ATF analysis came days after Trump delivered a lie-filled primetime speech defending his handling of the US economy as his approval ratings tanked, with American voters across party lines increasingly furious over the high costs of housing, groceries, healthcare, and other necessities.

During the speech, Trump vowed that Americans would soon “see the results of the largest tax cuts in American history.”

But the richest people in the country are set to reap disproportionate benefits from the tax cuts. As Bloomberg reported earlier this week, “Many filers—particularly those who could most use the financial boost—may soon be disappointed.”

“Wealthy taxpayers in high-tax states like California, New York, and New Jersey are the biggest winners,” the outlet noted.

CNN calls out NBC for letting Trump get away with 'rapid-fire dishonesty'

Earlier this week, President Donald Trump sat down with NBC News reporter Tony Llamas for a wide-ranging interview on multiple subjects. However, Llamas often let the president lie without pushing back. Now, CNN is taking Llamas to task for not doing his job — while debunking Trump's lies.

In a Thursday article, CNN's Daniel Dale did a point-by-point fact-check of Trump's biggest lies, and admonished Llamas for doing little to counter what he called Trump's "rapid-fire dishonesty." The CNN fact-checker observed that while NBC published a fact-check of Trump's claims after the interview, Llamas himself frequently responded to Trump's outright falsehoods with "right" or "yeah," and sometimes "didn’t acknowledge them at all."

"Llamas’ hands-off approach to the president’s falsehoods left people watching the interview on television and through social media clips without immediate corrective information on a variety of pressing subjects," Dale wrote. "An exchange about inflation, for example, was littered with a bunch of inaccurate Trump figures and assertions that Llamas let pass by with the word 'right.' And in one case, when Trump claimed it’s only 'very few' product prices that have stubbornly refused to fall during this presidency, Llamas initially responded with a comment that made it sound like he was endorsing the false claim: 'Yeah, very few. I get it.'"

When it came to Trump's insistence about presiding over an increase in prices of consumer goods, Trump insisted to Llamas that the increases are limited to "very few" items. But Dale wrote that the Consumer Price Index was actually 2.7 percent higher in December 2025 compared to December 2024, and many more products have become more expensive since Trump's second term began than have become cheaper.

Dale also disputed Trump's claim to Llamas that he "inherited the worst inflation in the history of our country." The all-time highest inflation rate of 23.7 percent was actually set in 1920. And while former President Joe Biden saw the inflation rate jump as high as 9.1 percent under his watch in 2022, that was a 48-year high. Dale credited Llamas for telling Trump that Biden had to contend with the Covid-19 pandemic, which was the chief cause of high inflation rates.

Trump also told the NBC reporter that gas prices were "$1.99 a gallon" in 2026, though Dale found that the average price for a gallon of gas was $2.89 per gallon according to data published by AAA. GasBuddy head of petroleum analysis Patrick De Haan told CNN that out of more than 150,000 gas stations, only 18 to 34 offered gas prices under $2 per gallon. Dale reminded readers that Llamas' only response to Trump's claim was "yeah."

"An average over those dates would be 28 stations over the course of the week, or 0.018% of all U.S. stations. I think I’d rather find the needle in the haystack at that point," De Haan said.

Right-wing Catholic booted off Trump panel after remarks at antisemitism event

A conservative Catholic was expelled from President Donald Trump’s so-called Religious Liberty Commission this week over remarks at a hearing on antisemitism in which she pushed back against those who conflate criticism of Israel and its genocidal war on Gaza with hatred of Jewish people.

Religious Liberty Commission Chair Dan Patrick, who is also Texas’ Republican lieutenant governor, announced Wednesday that Carrie Prejean Boller had been ousted from the panel, writing on X that “no member... has the right to hijack a hearing for their own personal and political agenda on any issue.”

“This is clearly, without question, what happened Monday in our hearing on antisemitism in America,” he claimed. “This was my decision.”

Patrick added that Trump “respects all faiths”—even though at least 13 of the commission’s remaining 15 members are Christian, only one is Jewish, and none are Muslim, Hindu, Buddhist, or other religions to which millions of Americans adhere. A coalition of faith groups this week filed a federal lawsuit over what one critic described as the commission’s rejection of “our nation’s religious diversity and prioritizing one narrow set of conservative ‘Judeo-Christian’ beliefs.”

Noting that Israeli forces have killed “tens of thousands of civilians in Gaza,” Prejean Boller asked panel participant and University of California Los Angeles law student Yitzchok Frankel, who is Jewish, “In a country built on religious liberty and the First Amendment, do you believe someone can stand firmly against antisemitism... and at the same time, condemn the mass killing of Palestinians in Gaza, or reject political Zionism, or not support the political state of Israel?”

“Or do you believe that speaking out about what many Americans view as genocide in Gaza should be treated as antisemitic?” added Prejean Boller, who also took aim at the International Holocaust Remembrance Alliance (IHRA) Working Definition of Antisemitism, which has been widely condemned for conflating criticism of Israel with anti-Jewish bigotry.

Frankel replied “yes” to the assertion that anti-Zionism is antisemitic.

Prejean Boller also came under fire for wearing pins of US and Palestinian flags during Monday’s hearing.

“I wore an American flag pin next to a Palestinian flag as a moral statement of solidarity with civilians who are being bombed, displaced, and deliberately starved in Gaza,” Prejean Boller said Tuesday on X in response to calls for her resignation from the commission.

“I did this after watching many participants ignore, minimize, or outright deny what is plainly visible: a campaign of mass killing and starvation of a trapped population,” she continued. “Silence in the face of that is not religious liberty, it is moral complicity. My Christian faith calls on me to stand for those who are suffering [and] in need.”

“Forcing people to affirm Zionism as a condition of participation is not only wrong, it is directly contrary to religious freedom, especially on a body created to protect conscience,” Prejean Boller stressed. “As a Catholic, I have both a constitutional right and a God-given freedom of religion and conscience not to endorse a political ideology or a government that is carrying out mass civilian killing and starvation.”

Zionism is the movement for a homeland for the Jewish people in Palestine—their ancestral birthplace—under the belief that God gave them the land. It has also been criticized as a settler-colonial and racist ideology, as in order to secure a Jewish homeland, Zionists have engaged in ethnic cleansing, occupation, invasions, and genocide against Palestinian Arabs.

Prejean Boller was Miss California in 2009 and Miss USA runner-up that same year. She launched her career as a Christian activist during the latter pageant after she answered a question about same-sex marriage by saying she opposed it. Then-businessman Trump owned most of Miss USA at the time and publicly supported Prejean Boller, saying “it wasn’t a bad answer.”

Since then, Prejean Boller has been known for her anti-LGBTQ+ statements and for paying parents and children for going without masks during the Covid-19 pandemic.

The Council on American Islamic Relations (CAIR) commended Prejean Boller Wednesday “for using her position to oppose conflating criticism of Israel with antisemitism and encourage solidarity between Muslims, Christians, and Jews,” calling her “one of a growing number of Americans, including political conservatives, who recognize that corrupted politicians have been trying to silence and smear Americans critical of the Israeli government under the guise of countering antisemitism.”

“We also condemn Texas Lt. Gov. Patrick’s baseless and predictable decision to remove her from the commission for refusing to conflate antisemitism with criticism of the Israel apartheid government,” CAIR added.

In her statement Tuesday, Prejean Boller said, “I will not be bullied.”

“I have the religious freedom to refuse support for a government that is bombing civilians and starving families in Gaza, and that does not make me an antisemite,” she insisted. “It makes me a pro-life Catholic and a free American who will not surrender religious liberty to political pressure.”

“Zionist supremacy has no place on an American religious liberty commission,” Prejean Boller added.

Nursing homes gave Trump millions. HHS used their talking points to throw out a costly rule

Nursing home firms gave President Donald Trump's super PAC $4.8M in Aug. and Sept. of 2025. Now, he's killing a rule that has been costing them cash.

According to The New York Times' Kenneth P. Vogel and Christina Jewett, the administration has placed a 10-year ban on a rule that "[requires] increased staffing levels in an effort to reduce neglect among residents."

The cash resulted in a lunch at Trump's golf club, where executives took their lobbying efforts directly to the president. Despite evidence showing staff shortages lead to injuries and deadly infections, they got their moratorium.

The industry thinks that the requirements dramatically increase costs and cut into profits.

"Starting in early August, the industry began making donations that over the course of weeks would eventually total nearly $4.8 million to MAGA Inc., a super PAC devoted to Mr. Trump and run by his allies," said the report.

Bill Weisberg, the CEO of Saber Healthcare Group, told the Times in a text message that the group "urged the president to formally repeal the harmful minimum staffing mandate, which would have surely forced providers throughout the country to close their doors to new residents — or possibly close their doors altogether."

A month later, the Department of Health and Human Services used donors' talking points to throw out the rule.

As Baby Boomers age, long-term care facilities are becoming increasingly important. Those who advocate for patients' rights argue that increased staff are desperately needed.

"By one estimate, the staffing rule could have saved 13,000 lives of nursing home residents per year," the report said. "It set off a tense debate over whether the industry, still recovering from the Covid-19 pandemic, could have found the funds to attract the staff needed to meet the new requirements. Research has suggested that the industry relies on a warren of corporations to conceal profits — profits that could have been used to improve care."

National Consumer Voice for Quality Long-Term Care director Lori Smetanka told the Times, “Residents are not getting the care they need. They’re dying from a lack of care.”

It's difficult to know the full impact the standard would have had because it was never fully enacted.

A "nonpartisan government analyst expected that state and federal governments would have kicked in an additional $22 billion over 10 years to help the industry boost staffing."

The report goes on to note that it's just one of many examples of lobbying the president directly through hefty donations. Some of the biggest accomplishments have come from donations resulting in pardons. The Wall Street Journal reported in December that the going rate is about $1 million.

Defiant Trump on his health: 'I have very good genetics'

After bruises and makeup popped up on President Donald Trump's hand again, questions resurfaced about his advanced age and concerns over his mental acuity.

The Wall Street Journal reported Thursday in an exclusive, that Trump revealed he hated the compression socks that would help fix his cankles problem and he really hates that he agreed to do an MRI sparking conversations about why a doctor would order such a thing.

“In retrospect, it’s too bad I took it because it gave them a little ammunition,” Trump said.

He revealed that the MRI wasn't of his brain, but of his abdominal area and his heart. He also said it wasn't an MRI at all, but a CT scan.

“It was less than that. It was a scan," Trump said.

“I would have been a lot better off if they didn’t, because the fact that I took it said, ‘Oh gee, is something wrong?’ Well, nothing’s wrong," Trump claimed.

The White House, at the time, called the scan “advanced imaging."

Trump, the oldest president in U.S. history, is showing his age in both public and private, those close to him told The Journal.

The Republican has a history of medical records that prompted experts to scoff. One doctor gave him a diagnosis of "bone spurs" when his draft number came up for the Vietnam War. The daughter of the doctor later said that her father did it as a favor to Trump's father.

As Trump entered the 2016 presidential race, he had his personal physician, Dr. Harold Bornstein, pen a letter claiming his patient had “astonishingly excellent” laboratory test results with other tests showing “only positive results."

Bornstein later said that "there's nothing to share" on a regular basis about a president's health.

"Ronald Reagan had pre-senile dementia. I mean, seriously, did they share that one with you, or did Nancy just cover it up?" the doctor questioned in interview with STAT.

In another incident, Trump hid that he had COVID-19 and was so bad he was placed on supplemental oxygen. Former chief of staff Mark Meadows said that he was “consumed with fear that Trump might die.”

At least twice in the last few months, Trump appeared to have dozed off in public meetings when others were talking.

"Aides, donors and friends say they often have to speak loudly in meetings with the president because he strains to hear," The Journal continued. "Aside from golf, Trump doesn’t get regular exercise, and he is known to consume a diet heavy on salty and fatty foods, such as hamburgers and french fries."

Trump's records show he takes rosuvastatin and ezetimibe for cholesterol and uses mometasone cream for a skin condition. The cream is typically used for eczema. He takes the aspirin for “cardiac prevention" his records show.

Trump claimed he takes high doses of aspirin and that's why his hands bruise so easily. While doctors have told him to take less, he refused out of "superstition."

“They say aspirin is good for thinning out the blood, and I don’t want thick blood pouring through my heart,” Trump said. “I want nice, thin blood pouring through my heart. Does that make sense?”

The normal low dosage aspirin is about 81 milligrams, but Trump takes 325 milligrams per day. That's what so consistently causes his bruising, Trump claims. Still, he puts makeup on it to keep the bruises secret.

The CT scan, Navy Capt. Sean Barbabella said, was “to definitively rule out any cardiovascular issues” and revealed no abnormalities.

Trump's physical signs of aging are so severe that Attorney General Pam Bondi "nicked" his delicate skin "with her ring while giving him a high-five at the Republican National Convention in Milwaukee."

Trump also doesn't sleep well, sending aides messages "at 2 a.m. or later," the report said.

All of this comes after Trump spent years bashing former President Joe Biden as too old, feeble and "sleepy" to be president.

Trump swears he never fell asleep during the meetings, he was just resting his eyes.

“I’ll just close. It’s very relaxing to me,” Trump told the Journal, describing shutting his eyes. “Sometimes they’ll take a picture of me blinking, blinking, and they’ll catch me with the blink.”

Accusations he can't hear are false too, he said he only struggles "sometimes" because "there’s a lot of people talking.”

In the end, his health is perfect, he claims.

“Genetics are very important,” he said. “And I have very good genetics.”

Read the full report here.

Trump's economic troubles shrink market for Santa Claus impersonators

Donald Trump's economy might be a boon for the wealthiest 10% of Americans, but conditions remain challenging for most others, especially those looking to find a job. According to a Christmas Eve report from Axios, this "labor market pinch" is now impacting one of the most seasonal jobs of them all: Santa Claus.

On Wednesday, Axios reported that the appetite for Santa Claus impersonators in the US has dried up significantly this year. While recent economic troubles are certainly to blame for some Americans cutting out St. Nick from their party budgets, some of the problem has also been "structural and long in the making."

Mitch Allen, operator of Hire Santa, a staffing agency for holly-jolly impersonators, gave the lay of the tough landscape in a statement to Axios.

"People are still having Christmas celebrations, but they are not having as big of an event at their home or office," he said. "They might not have entertainers."

Allen also spoke to NPR about the situation earlier in December, explaining that calls to his agency inquiring about Kris Kringle actors for "malls, schools, offices or a private event" were down 30% compared to the same time in 2024.

For mall Santas in particular, Axios noted, the issues run deeper than recent hardships. As more and more malls have closed up shop over the last few decades, there has naturally been a decline in the demand for impersonators to meet with children during mall shopping trips.

The lagging demand is also being worsened by an increase in the number of impersonators available. While the COVID-19 pandemic saw the number of Santa look-a-likes plummet, the category has rebounded since then, thanks to increased staffing efforts from places like Hire Santa.

"We've worked hard over the last five years to increase the number of Santas that we have in our database," Allen said

Axios also noted that broader demographic shifts in the US towards an older population, on average, have also contributed to there being more Santa Claus performers on the market than consumers need.

Trump set to repeat multi-billion dollar disaster

Get ready. Something truly awful may be happening to our economy — at least for average Americans — as the result of Trump’s billions in tax breaks for billionaires, looting of our treasury and economy, $38 trillion national debt, and his corrupt embrace and promotion of foreign autocracies and digital currencies.

If it happens, it’s going to hurt many of us, all while making Trump’s billionaire buddies massively richer.

I remember the look on Treasury Secretary Hank Paulson’s face when the economy crashed in 2008. The former Goldman Sachs CEO’s hands trembled as he stood at a podium and confessed that the GOP’s banking deregulation had blown up the American financial system and very nearly the global economy.

Millions of Americans lost their homes, their jobs, and their retirements that year, but the barons of Wall Street lost nothing — except a brief moment of embarrassment — and then paid themselves tens of billions in bonuses.

About $430 billion was initially shoveled out the federal door and into the banks in just one month. And, tragically, both Bush and Obama decided that not one top donor executive should go to prison, and not even one major bank was broken up.

We coughed up $430 billion to make them whole. And now, it appears, the banksters are at it again.

According to a new report from Lever News, over the past few months the Federal Reserve has quietly extended more than $420 billion in emergency support to Wall Street’s biggest banks in near-silence, with minimal scrutiny, and no serious conditions attached.

This isn’t an accident: it’s the predictable end point of a system that punishes working people for falling behind and rewards billionaires for their political connections.

As headlines today warn of layoffs spreading through U.S. manufacturing (100,000 job losses since Trump took office) and the Federal Reserve is quietly extending hundreds of billions of dollars in emergency support to Wall Street, it’s worth remembering a sobering but basic rule of history: when economies break, the rich make out like bandits.

That’s because recessions are basically shopping sprees for people like Trump and the 13 billionaires in his cabinet.

When Wall Street banks crashed the American economy in 2008, home prices (and, thus, homeowner equity) collapsed by 21 percent. Over 10 million Americans lost their homes to banking predators like “Foreclosure King” Steve Mnuchin, and tens of millions of others were underwater.

The stock market plummeted by over 50 percent in the last year of Bush’s presidency. On Oct. 9, 2007 the Dow was at its all-time peak of 14,164 but by March 5, 2009 it had collapsed to 6,594.

While millions of Americans lost their jobs and were wiped out as the Bush Crash started today’s homelessness crises, the top 1 percent saw it as one of the finest buying opportunities of the new century.

Working-class people were desperately unloading stocks in their 401Ks at a loss just to pay the bills, as wages plummeted in the face of a loose labor market.

But the morbidly rich were doing great.

Between 2009 — the bottom of the Bush Crash — and 2012 when the recovery finally began under Obama, the top 1 percent of Americans saw their income grow by over 31 percent. Fully 95 percent of all the income increases in the country were seized by the top 1 percent of Americans during that period.

As the economy recovered, rich people who’d used their increased income to buy stocks at the market bottom rode the S&P 500 up by 462 percent to 2020. A billion dollars invested in 2009 became $4.62 billion in just 11 years, a period during which the combined wealth of American billionaires went up by over 80 percent.

Then they did it again 10 years later!

The Trump/Covid Crash of 2020, “mismanaged” in a way to create maximum pain for working people, presented America’s morbidly rich with another brand new and huge opportunity to get richer on top of a crisis brutalizing the rest of America.

The market collapsed under Republicans and Trump, and working people, now out of work, were again selling their stocks at a loss just to pay the mortgage and buy food. But for the wealthy, it was a gift from God.

March 16, 2020 — just after Trump declared a pandemic and lockdown — the Dow sustained the largest single-day crash in its entire history. For the investor class, Trump and his billionaire buddies, this was an even better opportunity than the Bush crash of 2008!

Fewer than three months later, on June 4, we learned that the seven richest people in America had seen their fortunes increase by fully 50 percent.

And with Trump’s massive tax cut for his fellow billionaires, they could keep most all of it: by that time the average American billionaire was paying less than 3 percent in income taxes (a situation that persists to this day).

Just during that one single terrible pandemic year of 2020, the Institute for Policy Studies documents, U.S. billionaires saw their net worth surge 62 percent by $1.8 trillion. Average billionaire wealth worldwide increased 27 percent in that one year alone.

American billionaires’ real taxes have fallen by 79 percent since Reagan’s election in 1980, and a 2012 analysis found that as much as $32 trillion is safely squirreled away in tax-fraud offshore shelters, about the same amount as their tax avoidance has left us as a national debt.

Which is why average Americans should stop pretending that downturns are random acts of God. They’re predictable outcomes of Republican policy choices that get repeated over and over again — 10 of the last 11 recessions happened when a Republican was president — and this one is being engineered in plain sight.

Deregulation weakens guardrails. Trade chaos disrupts production. Inequality hollows out demand. And when the system finally buckles, the losses to average working class people mean huge profits for the morbidly rich.

So no, this warning isn’t fringe: it’s historical and empirical. And it’s being quietly confirmed by the behavior of the people like Warren Buffett — now sitting on $314 billion in cash — who know the markets best and are waiting for the crash to cash in.

So get ready. Reduce your debt as much as possible, nail down your employment and assets, prepare your garden, and get ready to live simply as Trump crashes our economy again just like he did in 2020, and then tries to use that as an excuse to consolidate his power while he and his billionaire buddies again make off like the bandits they are.

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